Archive for the ‘Bad Credit Personal Loans’ Category
Payday Lenders Converting to Small Loan Stores
Nov 30th, 2009 @ 11:32 AM by Debbie DragonTennessee-based payday lending company, Check Into Cash, is converting some stores over to small loan businesses. According to South Carolina’s homepage, The State, twelve of the South Carolina Check Into Cash stores are changing over by the first of 2010. The other remaining CIC stores will be closing indefinitely. South Carolina’s 12.1% unemployment rate is also having a great impact on the payday loan business, considering the concept of a payday loan doesn’t work when many people don’t have jobs. The General Assembly has recently placed new operating restrictions and regulations on payday lenders. It’s too early to say if... more »
FICO Score Changes More Forgiving
Aug 27th, 2009 @ 9:32 AM by Ben MeyerGood news for those hoping to improve their credit. Changes to the FICO model that credit agencies use to determine your credit score is more forgiving for small credit blemishes, according to a recent article in the Wall Street Journal. The new formula, FICO 08, has been made available to lenders by the big three credit agencies; Experian, TransUnion and Equifax, since last month. Unlike previous versions, FICO 08 will not ding your credit score for bills in collections originally under $100. It is also less likely to lower your scores for occasional missed payments, although those with a pattern... more »